Month: April 2019
There is a great number of reports, articles, and studies done on Intelligent Procurement. This is indeed a rapidly evolving science. For context, it is prudent to define the Concept of Value, Value Chains, and Value Streams.
Value has 3 components:
- At set of activities are engaged in transforming inputs and raw materials from on stage to the next
- All activities are done right the first time
- Customers are willing to pay for the resulting outputs (good and services)